CFTC Chair Michael Selig is mounting a high‑profile push for the crypto market structure bill—known as the CLARITY Act—arguing it could make the U.S. the “gold standard” for digital‑asset regulation.
In a FOX Business interview, the newly appointed Selig said years of regulatory uncertainty have driven innovation and capital offshore, and that the CLARITY Act would finally provide the long‑sought clarity. The bill would create a formal “token taxonomy” and delineate which regulators oversee which parts of the market, giving developers and investors a clearer framework for what counts as a security and what does not under U.S. law.
Selig also challenged the prevailing approach that treats most digital assets as securities, calling that stance outdated. He argued many cryptocurrencies behave like commodities and should fall under CFTC jurisdiction rather than being governed exclusively by the SEC. Looking ahead, Selig told FOX Business he believes the bill could reach President Donald Trump’s desk “within the next couple of months,” and he praised the president’s vocal support for the crypto industry as a potential accelerant for passage.
But momentum in Congress is anything but certain. Crypto reporter Eleanor Terrett said on X that Senate Democrats plan a closed‑door member‑level meeting on crypto market structure this week—the first such caucus since the Senate Banking Committee postponed its markup last month. That delay followed industry pushback, including Coinbase withdrawing support over provisions governing tokenized equities, decentralized finance (DeFi) and stablecoin reward/yield rules. Those disagreements stalled the Banking Committee effort even as a competing version of the bill cleared the Senate Agriculture Committee in last week’s vote.
With lawmakers still hashing out jurisdictional lines, token definitions and contentious carve‑outs, the CLARITY Act remains a high‑stakes, politically charged effort that could reshape where and how crypto businesses operate in the U.S. in the months ahead.
Image: OpenArt. Chart: TradingView.com.
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